Tokenized gold was my greatest safe haven asset.

By MadMaxx | Psycho Crypto | 4 Apr 2020


We're all aware of the almighty, mother of all crashes crash that just happened in the global financial markets. Unfortunately that crash took our lovable Bitcoin along with it. Bitcoin quickly recovered however.

I wasn't able to move my money out of crypto quickly because, you know, I'm lazy AF. I was probably playing PUBG when the crash happened, and I was really raging at my teammates. That's the team spirit yo.

I did have a lot of stop losses triggered. If you follow me, you'd know that I trade a bunch of altcoins, alongside bitcoin. All my stop losses were triggered, which saved my ass a lot. See? Who said you can't play PUBG and trade?

However, one thing I couldn't figure out was my paper assets as well were stopped out. I hadn't figured out that it was a global crash, and I thought it was bitcoin specific.

It took me a while, but I eventually figured out what was going on.

"Gosh I've got to hedge myself ASAP, at least on the crypto side since I can't save my stocks".

So I thought for the safest asset I could buy. I thought of buying DAI, but that would be equal to holding dollars with a slightly more colorful logo.

So I decided to look at gold.

And sure enough, gold had dropped the least of all the assets.

Get this. While Bitcoin lost ovee half of its value, silver did the same, platinum lost over 70% of its its value, gold lost a respectable 12% overall. I lose 12% sometimes and don't sweat it!

So I bought up XAUt on Bitfinex with all my trading money. That was a lot of tokenized gold.(I always stress the importance of having more than one exchange)

And I was saved from terrible danger!

Luckily, I was trading the XAUt/BTC pair, so when BTC did dip, I bought a lot of it and sold most of it yesterday at 7.1k. Quick 56% baby!

That was how tokenized gold saved me.

Thanks for reading!

 

 

 

 

If you reached down here, congratulations! You're now in the know of what I'm doing next. To celebrate my milestone achievement (1111 followers you guys are awesome!), I will be leaving the seed phrase of a newly created wallet containing 0.01BTC in it in different blog posts in the following days. Here's how it would go.

The special words would be highlighted in bold in 12 different posts over the course of next week. I might not do a post on some days because I'll be quite busy. All you have to do is to collect the keys.

To make your life and mine easier, the words would be in the order which the seed phrase is arranged in. 

Just look out for the bold words in my posts starting next week. See you then!

I'll put out even more explanation in one of my posts tomorrow, along with proof that the satoshis exist! Stay tuned!

 

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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